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CP Group Acquires Granite Office Tower in Denver, Colorado
Tuesday 14 September 2021

Southeast and Southwest United States office and mixed-use projects owner, operator, and developer CP Group and Related Fund Management they have acquired Granite Tower, the firms said.

The 31-story office tower was purchased from KBS, one of the nation's largest investors in premier commercial real estate. The transaction is CP Group's first in the Denver market.

Granite Tower a class A, 600,000 square foot office building is situated within the heart of Denver's central business district, one of the city's most vibrant live-work-play environments.

It is attached to the Ritz-Carlton and located within walking distance to popular destinations such as Coors Field and 16th Street Mall.

The property also offers easy access to a wide range of dining and retail options, including three of Denver's most prominent restaurants: The Palm, Paizano's, and Elway's.

In addition to the property's unparalleled location, Granite Tower recently underwent an USD 11m renovation that was completed earlier this year, enhancing the building's amenity package to include a fully remodeled lobby, tenant lounge, on-site gym, cafe, and outdoor space.

The Venture intends to build off of these enhancements and introduce additional amenities.

The transaction was finalized in an off-market deal by CBRE's Tim Richey and Jenny Knowlton.
Jamie Roupp with JLL will lead office leasing efforts for the property.
Details
Date Published: 14/09/2021

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